The UK Government’s MOBILIST programme has invested $10 million (₱586 million) in the initial public offering of Maynilad Water Services, one of the largest listings in the history of the Philippine Stock Exchange. MOBILIST acted as a cornerstone investor, signaling international confidence in the Philippines’ water infrastructure sector.
Maynilad provides water and wastewater services to over 9 million residents in Metro Manila’s West Zone. Proceeds from the IPO will fund the expansion and modernization of the city’s water network, including the installation of smart sensor systems to identify maintenance needs and improve water supply management.
MOBILIST joins other prominent investors, including the International Finance Corporation, the Asian Development Bank, and global private sector partners. The investment demonstrates that Philippine infrastructure companies can leverage public markets to secure capital for sustainable development, renewable energy, and critical infrastructure projects.
This marks MOBILIST’s second investment in the Philippines, following its participation in the IPO of Citicore Renewable Energy Corporation in 2024.
British Ambassador to the Philippines Sarah Hulton OBE said, “I am proud that the Philippines is the first country where MOBILIST has invested in two listings. Through this investment, the UK is not just financing a single water utility. We are demonstrating a new model for development finance, showing how public markets can unlock capital for critical infrastructure, sustainable development, and climate adaptation.”
Since 2023, MOBILIST has partnered with the Philippine Stock Exchange to strengthen capital markets and promote the use of listed products to mobilize private capital for climate transition and sustainable development.
As the Philippines tops the World Risk Index for the third consecutive year, the UK continues to support climate adaptation initiatives across sectors including renewable energy and the blue economy.
The UK and Philippine governments are also collaborating on the EMDE Public Markets Coalition, launched at the UN’s Fourth Financing for Development Conference in Seville. The coalition, which includes Norway, the African Development Bank, and other partners, will develop a toolkit for multilateral development banks, development finance institutions, and investors to scale investments in emerging markets and developing economies through public markets.